Calgary, Alberta – February 7, 2020 – Willow Biosciences Inc. ("Willow" or the "Company") (TSX: WLLW; OTCQB: CANSF) is pleased to announce that it has appointed Dr. Peter Seufer-Wasserthal as independent Chairman of the Board of Directors and Dr. Joseph Tucker as Chief Operating Officer of Willow.
In conjunction with Dr. Seufer-Wasserthal's appointment, Dr. Tucker has resigned from the position of Executive Chairman and will remain on the Board of Directors. Dr. Seufer-Wasserthal previously served as an independent Director of Willow.
"With our recent move to the TSX, we have taken steps to enhance the independence of our board of directors. Dr. Tucker’s new role as Chief Operating Officer is a continuation of his operational role when he was Executive Chairman", said Trevor Peters, President and Chief Executive Officer of Willow.
Willow is a Canadian biotechnology company based in Calgary, Alberta, that produces high purity, plant-derived compounds that provide building blocks for the global pharmaceutical, health and wellness, and consumer packaged goods industries. Willow's current focus is in the production of cannabinoids for the treatment for pain, anxiety, obesity, brain disorders, among other significant indications. Willow's science team has a proven track record of developing manufacturing technologies for high purity compounds in pain and cancer treatments. Willow's manufacturing process creates a consistent, scalable and sustainable product that allows for the discovery and development of new life changing drugs.
For further information, please visit Willow's website at www.willowbio.com or contact:
President and Chief Executive Officer
T: (403) 669-4848
CFA Vice President, Corporate Development
T: (403) 618-1117
3655 36th Street NW
Calgary, AB T2L 1Y8
This news release may include forward-looking statements including opinions, assumptions, estimates and the Company's assessment of future plans and operations, and, more particularly, statements concerning: the benefits of the descheduling of Purisys' CBD to Willow, including the ability to conduct research and the potential expansion of Willow's customer base; the benefits of the Partnership to the Company; the regulatory environment for CBD and other cannabinoids; the consumer demand for ultra-pure, consistent and cost-effective CBD; the spin-out of Purisys; and the business plan of the Company, including cannabinoid research and production. When used in this news release, the words "will," "anticipate," "believe," "estimate," "expect," "intent," "may," "project," "should," and similar expressions are intended to be among the statements that identify forward-looking statements. The forward-looking statements are founded on the basis of expectations and assumptions made by the Company which include, but are not limited to, the continuation of the Partnership and increasing consumer demand for CBD and other cannabinoids. Forward-looking statements are subject to a wide range of risks and uncertainties, and although the Company believes that the expectations represented by such forward-looking statements are reasonable, there can be no assurance that such expectations will be realized. Any number of important factors could cause actual results to differ materially from those in the forward-looking statements including, but not limited to, risks associated with the cannabinoid industry in general, infringement on intellectual property, failure to benefit from partnerships or successfully integrate acquisitions, actions and initiatives of federal and provincial governments and changes to government policies and the execution and impact of these actions, initiatives and policies, import/export and research restrictions for cannabinoid-based operations, the size of the medical-use and adult-use cannabinoid market, competition from other industry participants, adverse U.S., Canadian and global economic conditions, failure to comply with certain regulations, departure of key management personnel or inability to attract and retain talent regulatory and other factors more fully described from time to time in the reports and filings made by the Company with securities regulatory authorities. Except as required by applicable laws, the Company does not undertake any obligation to publicly update or revise any forward-looking statements.
Neither the Canadian Securities Exchange nor the Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
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